The transformation of research concepts into commercial ventures is seen as a catalyst for accelerating economic growth and national progress. Professor Shaykh-Luqman Jimoh, the Acting Vice-Chancellor of Kwara State University, emphasized this viewpoint during the inaugural Quadruple Helix roundtable organized by the institution’s Centre for Entrepreneurship and the University-Industry Relations Committee. He highlighted the roundtable’s significance as a platform uniting academia, government, industry, and the community to brainstorm mutually beneficial strategies, signifying the university’s dedication to collaborative efforts towards national development.
Standing at the intersection of academia, industry, government, and the community, Professor Jimoh expressed that this convergence fosters knowledge, innovation, and collective advancement in the vast expanse of the knowledge universe. He described academia as the source of innovation, industry as the catalyst for transforming ideas into tangible products and services, governments as providers of the necessary infrastructure and growth-enabling environment, and the community as the ultimate beneficiaries of these combined endeavors.
He asserted that the future prosperity of the nation hinges not only on pushing the boundaries of knowledge but also on bridging the gap between research laboratories and the market. Professor Jimoh underlined the belief that genuine national development relies on the commercialization of transformative ideas originating from research institutions. He emphasized that converting research output into commercial ventures is a central element of the institution’s strategic plan, and stressed the urgency for these groundbreaking ideas to transcend academia and enter the realms of industry and entrepreneurship.
Industry consultant Mr. Deji Ajani echoed this sentiment, urging academia to view research not merely as a criterion for career advancement, but also as a pathway to creating enterprise. He called on the government and universities to establish infrastructure that motivates researchers to be intentional about their work and to commercialize their research findings. This, he argued, would spur interest and investment in emerging research areas, ultimately leading to improved access to research funding, job creation, enhanced innovation in scope and quality, growth of spinoff industries, and the economic sustainability of universities.
Dr. Sunday Ojo, Director of the institution’s Centre for Entrepreneurship, in his welcome address, identified unemployment as a pressing challenge in the country that could be addressed through the wealth of innovative ideas constantly generated by academia. He called for increased collaboration among stakeholders, deeming it long overdue. Dr. Aliru Mustapha, Chairman of the University-Industry Committee of the institution, in his address, asserted that a synergistic relationship between academia and industry would enable companies to tap into the potential of academic institutions for the collective benefit of all.
The roundtable, themed “Commercialization of Research Output: Key to National Development,” was attended by representatives from state government agencies, academia, entrepreneurs, and the general public.